IMF predicts slowest global economic growth since 2008 financial crisis

The International Monetary Fund is now IMF World Economic Outlook – Oct 2019 global economic growth will slow to its weakest level since the 2008 financial crisis. A sharper-than-expected slowdown in international trade has affected manufacturing and investments, according to the organization’s World Economic Outlook. IMF chief economist Gita Gopinath said the organization estimates that … Read moreIMF predicts slowest global economic growth since 2008 financial crisis

FASB votes to delay effective dates for 3 major standards

Effective dates will be delayed for private companies and certain other entities for FASB’s standards on accounting for leases, credit losses (known as CECL), and hedging after a unanimous vote Wednesday by FASB. Under the ASU, effective dates for the lease accounting, hedge accounting, and accounting for credit losses standards will be affected as follows: … Read moreFASB votes to delay effective dates for 3 major standards

World Economic Outlook – October 2019

Global Manufacturing Downturn, Rising Trade Barriers Global growth is forecast at 3.0 percent for 2019, its lowest level since 2008–09 and a 0.3 percentage point downgrade from the April 2019 World Economic Outlook. Growth is projected to pick up to 3.4 percent in 2020 (a 0.2 percentage point downward revision compared with April), reflecting primarily … Read moreWorld Economic Outlook – October 2019

Bloomberg’s Recession Tracker – October 14, 2019

Recession fears have grown in recent months amid a persistent trade war with China, pullbacks in corporate hiring and investment and a manufacturing sector that has already slipped into contraction. The economy is cooling, but the big question is whether the slowdown will morph into something darker. Bloomberg Economics created a model to determine America’s … Read moreBloomberg’s Recession Tracker – October 14, 2019

Global Bonds Are Selling Off for All the Right Reasons

Central banks have taken a lot of heat by trying to combat slowing economic growth and inflation with the same strategies that have so far largely failed — that is, cutting interest rates even lower or, in some cases, further below zero. While such measures may have prevented a much more painful slowdown, they have … Read moreGlobal Bonds Are Selling Off for All the Right Reasons

US manufacturing survey shows worst reading in a decade

The ISM U.S. manufacturing purchasing managers’ index came in at 47.8% in September, the lowest since June 2009. This marks the second consecutive month of contraction. The new export orders index tanked to only 41%, the lowest level since March 2009. A gauge of U.S. manufacturing showed the lowest reading in more than 10 years … Read moreUS manufacturing survey shows worst reading in a decade